Magic Spectrum, the acceleration programme launched by Digital Magics at the end of 2021 and dedicated to start-ups that develop products or services for the 5G and Internet of Things market, joins the CDP National Accelerators Network, a group of physical hubs on the territory, focused on the markets with the highest potential, that CDP Venture Capital is creating to accompany new innovation talents in their growth path.
With the entry of CDP Venture Capital, through its Accelerators Fund, the acceleration program, which involves leading corporate partners such as Cisco, Compagnia di San Paolo, Inwit, Irideos, Melita and Unipol Tech, increases its action by more than 3 million euros, reaching a total endowment of 4.55 million euros. The entry of Magic Spectrum within the CDP National Accelerator Network therefore further strengthens the program's objective, both in financial and territorial terms.
The acceleration activities include an operational base both in Milan, headquarters of Digital Magics, and in Turin, headquarters of I3P, Incubator of Politecnico di Torino, local reference partner and center of competence for the technological verticals identified by Magic Spectrum. Further contributions in terms of industrial and territorial expertise are also provided by important technical partners such as Cluster Smart Communities, IREN and Solve.it.
Magic Spectrum is aimed at start-ups operating in the key segments of 5G and Internet of Things, such as smart home & building, smart mobility, smart factory, retail and logistics, agrifood, health & wellness. The 8 start-ups that will be selected each year, during the 3 years of the programme, will have access to investments of up to 325,000 euros, including initial investment and follow on, in line with the European acceleration best practices.
The acceleration program will be composed of two phases, "Discovery" and "Validation", each lasting about two months. At the end of the first phase, eight start-ups will be selected to enter the final stage of the program, in which the project will be tested and will then have access to the Investor Day, the meeting event with investors, mentors and companies.
Interested start-ups can apply via the call's official website until March 1, 2022, to take part in the first acceleration batch starting in April.